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← Upper Beeding Baptist Church: The Hub, Beeding

2024-12-31-accounts

Charity Registration No. 1173420

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING

TRUSTEES' REPORT AND ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Rev P Butchers J Jackson M Woolfenden E S Burt M S Dillamore R Fisk M A Whitechurch A Sharpe Charity number 1173420 Principal address The Hub, Beeding 19 Church Lane Upper Beeding Steyning BN44 3HP Independent Examiners TC Group The Courtyard Shoreham Road Upper Beeding Steyning West Sussex BN44 3TN Bankers CAF Bank 25 Kings Hill Avenue Kings Hill West Malling ME19 4JQ

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING

CONTENTS

Page
Trustees' report 1
Independent Examiner’s report 6
Statement of financial activities 7
Balance sheet 8
Notes to the accounts 9-16

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

Introduction

The trustees are pleased to present their annual report and accounts for the year ended 31 December 2024. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s Memorandum and Articles of Association, the Charities Act 2011 and the Statement of Recommended Practice, Charities SORP (FRS102).

Aim and Purposes

The principal purpose of The Hub, Beeding, (Charity The Hub, Beeding Upper Beeding Baptist Church) is the advancement of the Christian faith according to the principles of the Baptist denomination. The Church may also advance education and carry out other charitable purposes in the United Kingdom and/or other parts of the world.

Objectives

The Activities may include but are not restricted to:

Performance and Achievements

What follows is something of the work, imagination and love that the church has for God, one another and their community. It is tip of the iceberg and cannot adequately express the friendships formed, the love shared, those served, the personal and spiritual growth experienced, the opportunities to share our Faith, the fun we have had, how much we miss our brothers and sisters who have died, the dreams we still have and all the other non-tangible things about being a part of The Hub which will not make it into the following report. Those things, of course, are the most important things, and the events and facts recorded below are the signs which testify to all that the Lord is doing in us and through us.

Robin Fisk, Acting Chair of Trustees

Financial Review

There are two Restricted Funds - Community Fund for all the church’s work in the community and Refugee Support Fund for support of Ukrainian refugees and others in our community.

Income during the year was General Fund £206,295, Designated Funds £505 and Restricted Funds £19,757.

Expenditure during the year was General Fund £169,934, Designated Funds £nil and Restricted Funds £25,796.

The Church trustees have established a Reserves Policy to provide financial stability in the pursuit and development of our principal activity. The trustees have set aside reserves to meet emergency situations that may arise either in significant reduction in income or significant unforeseen expenditure in order to meet unexpected staff costs and other emergency situations the trustees have currently agreed to maintain a minimum sum of £12,500.

Should there be a shortfall in maintaining the sum reviewed and agreed, the trustees may consider reviewing the budget, or other means to ensure that sufficient reserves are maintained. The trustees review annually the level of reserves required to ensure sufficient funds to meet emergency situations. They also monitor income and expenditure closely to minimise unexpected financial risks The Trustees receive a monthly report of financial activity. They have approved the 2024 accounts.

At the year-end the charity held unrestricted free reserves of £36,572 (2023: £211).

1

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

The financial report confirms the Trustees’ view the Charity is in good shape to meet the vision and purpose of the church in serving the Community for years to come.

Main Summary

Governance and Trustees

Membership- Throughout 2024 there was little movement in the membership. There were 2 resignations and one transferred their membership, and one other person who became a member. There were 4 church meetings held throughout the year and the AGM was held in March. The election of Leaders was held at the September meeting with one new member being voted onto the leadership.

The Trustee’s met, on average, twice a month. We have worked on ways to streamline the agendas and minute taking which has helped us to work and think differently, and hopefully be as efficient as possible with all of the necessary duties like policy reviews, matters concerning the charity and the operation of the church. Staff attend these meetings on an occasional but regular basis thus allowing for updates on the everyday workings of the charity and allowing for both supervision and support.

Policies - The Hub has the following policies, these were reviewed during the year and any updates made. The safeguarding policy statement was read to the church and a copy can be found on the church noticeboard along with the details of the Designated people for safeguarding. All the policies are available on the website:

Safeguarding

The Safeguarding Trustee annually presents the safeguarding statement (a copy of which is on the church notice board), and all members are made aware of our Designated Person for Safeguarding.

Hub Church Youth and Children

Sunday Mornings – Hub Kids

Leaders: Vicki, Jo, Cristina, Phil, Simon, Zara

Hub Kids continued to work- with the pattern of fortnightly cafe church activities (1st and 3rd Sundays) alongside the led children’s sessions during the Celebration and Contemplation services (2nd and 4th Sundays). For the children’s sessions, the team prepared a programme with age and ability appropriate activities for the children who came, following the same themes as the main church congregation Activities included games, crafts, discussions, video clips based on the relevant theme of the week.

Highlights

2

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

Challenges

Community family work

Parenting Support

Positive Parenting - It was great to be able to run a series of face-to-face groups again this year. Themes for sessions included: Understanding Behaviour, Healthy Communication and Setting Loving Limits.

1:1 Family Support - Following on from the parenting groups Vicki was able to offer follow up 1:1 family support to some parents as requested or needed.

Flourish - In addition to Positive Parenting workshops Vicki offered a group called ‘Flourish’ specifically for parents and carers of children with special educational needs or disabilities. This proved very popular due to the scarcity of this type of support in the locality. The monthly group offered peer support for parents. Topics covered by this group concentrated on those that arose during conversations, which specifically affect families with children on the SEND pathway. Occasionally an outside speaker was invited to provide specific skills such as Speech and language, Carers support, emotional regulation, challenges with eating.

Positive Play - Over the course of the year, over 50 families attended this weekly term time group for parents & carers of children under 5 years of age. Vicki & Laura, alongside some volunteers, provide a welcoming and enjoyable environment with games, craft activities, snacks and the chance for parents/carers to chat together, building friendships. This is a lively but supportive group that generates much of the interest in Positive Parenting groups and 1:1 support opportunities.

Messy Church - Messy Church continued to run on the 3[rd] Saturday morning of each month with a growing number of families attending. Each month there is a theme and a simple brunch. The volunteers have formed a strong team, with the ability to slip into different roles on any given session as needed. Themes focus on reflective questions, applying Christian values to everyday life. There has been a continued sense of relationships growing between the families, and many supportive conversations between team members and the families. It is particularly good to see whole families coming together including dads. A number of Messy Church families accepted the invitation to a Christmas service at The Hub.

Upper Beeding Primary School - As well as regular assemblies, Vicki continues to offer Family support once a month in school. Appointments are pre- booked with the SENCO. Follow-up support is given either at the Hub, in school or by including the families in the Positive parenting groups and Flourish.

BeFriend

Befriend Senior exists to support those facing loneliness and isolation due to a change in their circumstance. Befriend offers friendship and encouragement. Befriend supports the lonely or isolated due to a change in circumstance such as moving to a new area, those suffering from bereavement or loss of mobility or health, mental or physical.

We have eight ongoing friendships, six clients we are in contact with but who for various reasons haven’t made a specific match, two Befrienders waiting for a match and two more being onboarded.

3

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

Hub Café

The café continues to be a true HUB for so many in the community. We are busier than ever, with the majority of customers coming from the locality. The café continues to be a place for networking, and we have regular drop ins with the Neighbourhood Wardens, Alzheimers Society, Age UK and more. We welcome volunteers and offer training. We currently have 32 Cafe volunteers and 12 active bakers.

Food Hubbard - Our list of recipients needing food support is steady, and we can clearly see that the higher cost of living is causing problems for more families. We have received a very generous amount of supplies from local residents through the Beeding Newsagents, Horsham Matters and also from the congregation and Cafe customers. Sue from Beeding News continues to refer many people to Cafe, Hubbard and Friendship Lunch.

Friendship Lunch - This is also growing, serving an average of 55 meals twice a month. Our aim is to tackle loneliness and isolation, and to encourage new friendships to be formed among our guests. We have two different teams cooking a two-course meal. Since last year more volunteers were added to the teams.

Teaching and Growth Groups 2024

Our Sunday meetings followed a 4 week rotation offering creative and imaginative as well as relevant opportunities for worship, where there was a fifth Sunday the opportunity was taken to fellowship together over lunch.

Themes covered this year have included:

Public benefit statement

In accordance with our duties as stated in section 17(5) of the 2011 Charities Act, we have considered the guidance provided by the Charity Commission in regard to public benefit. This public benefit has been demonstrated by the activities undertaken since the inception of the charity outlined in the ‘Aim and Purposes’ section above.

4

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

Trustees’ responsibilities in relation to the accounts

The Trustees of Upper Beeding Baptist Church: The Hub, Beeding, are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard FRS102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’. Charity law requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that year.

In preparing these accounts, the trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

23/6/2025

Approved by the Trustees board on …………………………...

Signed on behalf of the board of trustees

…………………………………… Robin Fisk

Treasurer and Acting Chair of Trustees

5

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING

INDEPENDENT EXAMINER’S REPORT

TO THE MEMBERS OF UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING

Independent examiner’s report to the trustees of Upper Beeding Baptist Church: The Hub, Beeding

I report on the accounts of the Charity for the year ended 31 December 2024 which are set out on pages 7 - 16.

Responsibilities and basis of report

As the trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).

Having satisfied myself that the accounts of the Charity are not required to be audited and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the 2011 Act. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner’s statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examinationgiving me cause to believe:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mark Cummins FCCA FCIE for and on behalf of TC Group

The Courtyard Shoreham Road Upper Beeding Steyning West Sussex BN44 3TN Dated: .........................

6

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2024

Unrestricted Restricted Designated Total Total
Notes funds funds Funds 2024 2023
Income from: £ £ £ £ £
Donations and legacies 145,036 1,270 - 146,306 124,237
Charitable activities 7,043 3,487 - 10,530 6,203
Other trading activities 48,121 - - 48,121 41,867
Investments 1,095 - 505 1,600 421
Other income 5,000 15,000 - 20,000 21,500
──────── ──────── ──────── ──────── ───────
Total income 3 206,295 19,757 505 226,557 194,228
──────── ──────── ──────── ──────── ───────
Expenditure on:
Charitable activities 154,878 25,796 - 180,674 188,920
Other expenditure 15,056 - - 15,056 17,351
──────── ──────── ──────── ──────── ───────
Total expenditure: 4 169,934 25,796 - 195,730 206,271
──────── ──────── ──────── ──────── ───────
Net income / (expenditure)
and movement in funds		 36,361 (6,039) 505 30,827 (12,044)
════════ ════════ ════════ ════════ ═══════
Total funds brought forward 211 7,443 19,928 27,582 39,626
──────── ──────── ──────── ──────── ───────
Total funds carried forward 13 36,572 1,404 20,433 58,409 27,582
════════ ════════ ════════ ════════ ═══════

7

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING

BALANCE SHEET

AS AT 31 DECEMBER 2024

2024 2023 2023
Notes £ £ £ £
Fixed assets
8		 8 - -
Current assets
Cash at bank and in hand 60,443 29,322
──────── ────────
60,443 29,332
Creditors: amounts falling due
within one year 9 within one year 9 (2,034) (1,740)
──────── ────────
Net current assets

58,409 27,582
──────── ────────
Total assets less current liabilities 58,409 27,582
──────── ────────
Net assets 58,409 27,582
════════ ════════
The funds of the charity The funds of the charity
Unrestricted funds 13 36,572 211
Restricted funds 11 1,404 7,443
Designated funds 12 20,433 19,928
──────── ────────
58,409 27,582
════════ ════════

The charity is entitled to the exemption from the audit requirement for the year ended 31 December 2024. No member of the charity has deposited a notice, requiring an audit of these accounts.

The trustees acknowledge their responsibilities for:

The notes on pages 9 to 16 form part of these accounts.

23/6/2025

The accounts were approved by the Board on …………………………. .............................. [auble Robin Fisk Treasurer and Acting Chair of Trustees

Charity Registration No. 1173420

8

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

1.1 Basis of preparation and going concern basis

The accounts have been prepared under the Church Accounting Regulations 2006 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) – (Charities SORP (FRS 102)) and the Charities Act 2011.

Upper Beeding Baptist Church: The Hub, Beeding meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future.

There are no material uncertainties about Upper Beeding Baptist Church: The Hub, Beeding’s ability to continue as a going concern.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

1.2 Cash Flow Statement

In accordance with Section 7 of FRS 102 the charity is claiming exemption from the requirement to prepare a cash flow statement on account of its size.

1.3 Income

Donations and other forms of voluntary income are recognised as incoming resources when receivable, except insofar as they are incapable of financial measurement.

Income from Charitable activities comprises grants awarded for activities undertaken by the charity. Grants are credited to the Statement of Financial Activities in the year in which they are receivable unless a grant is subject to donor imposed conditions that specify the time period in which the expenditure of the resources can take place; in which case they are deferred.

Investment income is accounted for on a receivable basis.

Income from other trading activities represents the sale of goods and services and is recognised when receivable.

1.4 Expenditure

Expenditure is accounted for on an accruals basis with the irrecoverable element of VAT included with the item of expense to which it relates.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.

Governance costs (included within support costs) include those costs associated with meeting the constitutional and statutory requirements of the charity and include audit fees and costs linked to the strategic management of the charity. These are now included as support costs.

All costs are allocated between expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned based on estimated usage as a proportion of directly attributable expenditure.

9

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting Policies

(continued)

1.5 Tangible fixed assets and depreciation

Tangible fixed assets are capitalised at cost and depreciated over their estimated useful economic life on a straight line basis as follows:

Asset category Annual rate Fixtures and fittings 20% Computer equipment 25%

1.6 Fund accounting

Funds held by the charity are either:

Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees and which have not been designated for other purposes.

Designated funds – these are funds which have been set aside by trustees to be spent on a specific purpose.

Restricted funds - these are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the accounts

1.7 Taxation

As a charity, Upper Beeding Baptist Church: The Hub, Beeding is exempt from tax on income and gains to the extent that these are applied to its charitable objects.

1.8 Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

1.9 Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments. The Trustees seek to use short term deposits where possible to maximise the return on monies held at the bank and to manage cash flow.

2 Key estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources.

The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The trustees do not consider that there are any critical estimates or areas of judgement that need to be brought to the attention of the readers of the financial statements

10

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

3 Analysis of income

Unrestricted Restricted Designated Total Total
funds funds Funds 2024 2023
£ £ £ £ £
Sundry donations 13,377 - - 13,377 16,029
Offerings 12,200 - - 12,200 10,700
Giving 83,843 1,270 - 85,113 58,537
Charity vouchers 19,274 - - 19,274 19,970
Gift aid refund 16,342 - - 16,342 16,503
Solar Panels - - - - 2,498
──────── ──────── ──────── ────── ────────
Total donations and legacies 145,036 1,270 - 146,306 124,237
Grants 5,000 15,000 - 20,000 21,500
──────── ──────── ──────── ────── ────────
Total other income 5,000 15,000 - 20,000 21,500
Children and family work 1,630 - - 1,630 1,879
Friendship lunch 5,381 - - 5,381 4,094
Community work 32 3,487 - 3,519 230
──────── ──────── ──────── ────── ────────
Total charitable activities 7,043 3,487 - 10,530 6,203
Hub café 43,324 - - 43,324 37,502
Lettings 4,797 - - 4,797 4,365
──────── ──────── ──────── ────── ────────
Total other trading activities 48,121 - - 48,121 41,867
Interest received 1,095 - 505 1,600 421
──────── ──────── ──────── ────── ────────
Total investments 1,095 - 505 1,600 421
──────
──────── ──────── ──────── ────────
Total income 206,295 19,757 505 226,557 194,228
══════
════════ ════════ ════════ ════════

Further details of the restricted grants are shown in note 11.

11

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

4 Analysis of expenditure Staff costs Other costs Total Total
2024 2023
£ £ £ £
Hub Base 4,014 33,123 37,137 50,192
Hub Staff 121,438 - 121,438 114,737
Hub Mission - 9,949 9,949 12,613
Hub Community Work 3,182 7,082 10,264 9,378
Support costs (note 5) - 1,886 1,886 2,000
──────── ──────── ──────── ────────
Total charitable activities 128,634 52,040 180,674 188,920
Hub Café - 15,056 15,056 17,351
──────── ──────── ────── ────────
Total other expenditure - 15,056 15,056 17,351
──────── ──────── ──────── ────────
Total expenditure 128,634 67,096 195,730 206,271
════════ ════════ ════════ ═══════
5 Support costs 2024 2023
£ £
Governance costs (independent examination) 1,836 1,740
Staff training 50 260
────── ───────
1,886 2,000
═══════ ═══════

12

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

6 Employees

Number of employees

The charity employed 5 employees during the year (2023: 5).

Employment costs

2024 2023
£ £
Wages and salaries 87,779 83,164
Social security costs 20,919 18,937
Pension costs 19,936 19,116
─────── ───────
128,634 121,217
═══════ ═══════

There were no employees whose annual emoluments were £60,000 or more (2023: none).

The key management personnel of the charity comprise the Minister, Rev Peter J Butchers. The minister is paid above the Standard Baptist Union stipend.

7 Trustees

During the year trustees were reimbursed expenditure totalling £1,604 (2023: £1,759).

All the trustees donate their time spent running the charity on a voluntary basis and do not receive any remuneration for their work as trustees.

8 Tangible fixed assets

Tangible fixed assets
Fixtures & Computer Total
Fittings equipment
£ £ £
Cost
As at 1 January and 31 December 2024 16,964 715 17,679
─────── ─────── ───────
Depreciation
As at 1 January and 31 December 2024 16,964 715 17,679
─────── ─────── ───────
Net book value
At 31 December 2024 - - -
═══════ ═══════ ═══════
At 31 December 2023 - - -
═══════ ═══════ ═══════

13

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

9 Creditors: amounts falling due within one year 2024 2023
£ £
Accruals 2,034 1,740
─────── ───────
2,034 1,740
═══════ ═══════

10 Employee Benefit Obligations

Baptist Pension Scheme

The church is a participating employer the Baptist Pension Scheme (“the Scheme”), which is a separate legal entity administered by the Pension Trustee (Baptist Pension Trust Limited). The Scheme, previously known as the Baptist Ministers Pension Fund, started in 1925. At the beginning of the financial year, the scheme comprised of a defined benefits scheme which was closed to future accrual on 31 December 2011 and a defined contribution plan which was opened in January 2012.The assets of the Scheme are held separately from those of the Employer and the other participating employers.

For the current financial year, the pension provision for members of the Scheme is being made through the Defined Contribution (DC) Plan. In general, members pay 8% of their Pensionable Income and employers pay 6% of members’ Pensionable Income into individual pension accounts, which are operated and managed on behalf of the Pension Trustee by Broadstone Corporate Benefits Ltd. In addition, the employer pays a further 4% of Pensionable Income to cover Death in Service Benefits, administration costs, and an associated insurance policy which provides income protection for Scheme members if they are unable to work due to long-term incapacity. This income protection policy has been insured by the Baptist Union of Great Britain with Aviva Limited. Furthermore, members of the Basic Section pay reduced contributions of 5% of Pensionable Income, and their employers also pay a total of 5%.

In October 2024, the insurance company Just Group completed a buy out of the liabilities of the closed defined benefit scheme. From that date any remaining liability of the participating scheme members to defined benefit scheme ceased and the £1 per month deficit contributions payable by the participating employers which were agreed in the recovery plan approved in August 2022 also ceased from that date. Administration of the closed defined benefit scheme transferred from the pension trustees to Just Group from that date.

The Minister and some members of the church staff are eligible to join the Scheme.

As there are a large number of contributing employers participating in the scheme, the church is unable to ascertain a formal valuation of its share of the underlying assets and liabilities of the scheme. The church however has been able to acquire an estimation of the valuation of its share of underlying assets and liabilities from the Baptist Pension Scheme. The liability relating to Upper Beeding Baptist Church; The Hub, Beeding is estimated to be £240,000 (2023: £240,000). The church understands that it would have cost £15,700 (2023: £15,700) to settle its statutory obligations to the scheme at the year end. The church has no plan to leave the scheme and expects to continue to make payments to the scheme in line with the recovery plan.

Section 28.11A of FRS 102 requires agreed deficit recovery payments to be recognised as a liability. The present value of the agreed deficit contributions were immaterial at the beginning of the financial year and were fully extinguished once buy out was completed by Just Group in October 2024.

14

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

11 Restricted funds

Balance at 1 Incoming Resources Transfers Balance at 31
January 2024 resources expended between funds December 2024
£ £ £ £ £
Community Fund 6,504 19,757 (25,796) - 465
Refugee Support Fund 939 - - - 939
─────── ─────── ─────── ─────── ───────
7,443 19,757 (25,796) - 1,404
═══════ ═══════ ═══════ ═══════ ═══════

Community Fund – This fund covers all aspects of our work supporting the local community. Refugee Support Fund – This fund is for supporting refugees for Ukraine and other countries. We are working together with St Andrews Church and other in our area.

12 Designated funds

Designated funds
Balance at 1 Incoming Resources Transfers Balance at 31
January resources expended between funds December
2024 2024
£ £ £ £ £
Hub Projects Fund 7,302 - - - 7,302
Reserve Fund 12,626 505 - - 13,131
─────── ─────── ─────── ─────── ───────
19,928 505 - - 20,433
═══════ ═══════ ═══════ ═══════ ═══════

Hub Projects - This is a Designated Fund for one off projects not included in the Hub’s General Fund Budget. Reserve Fund – This is a Designated Fund for monies set aside as a reserve in line with Charity Commission requirements.

15

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

13 Analysis of net assets between funds Unrestricted Restricted Designated Total
funds funds funds
£ £ £ £
Fund balances at 31 December 2024 are
represented by: -
Current assets 38,606 1,404 20,433 60,443
Creditors: amounts falling due within one year (2,034) - - (2,034)
─────── ─────── ─────── ──────
36,572 1,404 20,433 58,409
═══════ ═══════ ═══════ ═══════
Unrestricted Restricted Designated Total
funds funds funds
£ £ £ £
Fund balances at 31 December 2023 are
represented by:-
Current assets 1,951 7,443 19,928 29,322
Creditors: amounts falling due within one year (1,740) - - (1,740)
─────── ─────── ─────── ───────
211 7,443 19,928 27,582
═══════ ═══════ ═══════ ═══════

14 Control

The charity is under the control of the Trustees

15 Charity information

Upper Beeding Baptist Church: The Hub, Beeding is a Charitable Incorporated Organisation registered in England and Wales. The charity’s registered number and registered office address can be found on the legal and administrative information page.

16